According to BlockBeats, on July 18, Solana ecosystem's liquid staking protocol Sanctum announced that its Alpha Vault has surpassed $11 million in deposits. Despite reaching this milestone, users can still make deposits and withdrawals until approximately one hour before the official release.
Previously, BlockBeats reported that Alpha Vault would be open for deposits from 8:00 PM on July 16 to 6:00 PM on July 18, Beijing time. The deposits are not on a first-come, first-served basis. The corresponding CLOUD tokens will be vested over six months. The initial price of CLOUD will be determined by the amount of USDC in the Vault, with a maximum purchase limit set at $7.5 million or 50 million CLOUD tokens. The price of CLOUD will start at $0.001 and can rise to a maximum of $0.5 according to the LFG Curve. If the deposited USDC exceeds $7.5 million, CLOUD will be distributed proportionally based on deposits, and any excess USDC will be refunded.